Is it true that PIGS can fly?

Is it true that PIGS can fly? Despite their notoriety, Risk Matrices 5×5, Probability-Impact Graphs (PIGs), “Heat Maps”, have critical and potentially damaging intrinsic problems. That’s what Oboni Riskope Associates Inc. have learned thanks to two decades of Risk Assessments for extremely interesting and unusual projects awarded by a number of forward thinking clients.

Risk Matrices 5×5 or Probability-Impact Graphs (PIGs)

Is it true that PIGS can fly?

When looking at Risk Assessments of operations, plants and even networks, we can affirm that PIGs (we will use the acronym generically, to also include risk matrices 5×5 or 4×4 and heat maps) do not fly because they are misleading and could get you/your company straight in front of a Judge.

Oboni Riskope Associates Inc. is not the only entity to reckon this as academia as well as other consultants around the world are indeed starting to or have already published papers going in the same direction.

The presentation (or the PDF) Oboni Riskope Associates Inc. has prepared first reviews experience gathered in the last twenty years. Finally it shows point by point the fallacies of PIGs, Risk Matrices 5×5, Probability-Impact Graphs (PIGs), “Heat Maps”.

Fortunately, Riskope has developed a viable, proven, transparent alternative to PIGs which is explained using a real life Risk Assessment. Happily, ORA’s alternative can reuse most of the work you have already developed to establish your PIGs.

With ORA’s Optimum Risk Estimates you will be able to upgrade the existing corporate risk register. Thus you will be able to steer your company towards a rational, defensible and transparent stance.

You cannot allow yourself/your company to use a delusive tool, carrying potentially damaging legal liabilities.

Tagged with: Heat Maps, Optimum Risk Estimates, ORE, Probability Impact Graphs, Risk Management, Risk Matrices

Category: Optimum Risk Estimates, Probability Impact Graphs, Risk analysis, Risk management, Tolerance/Acceptability